XRP Technical Analysis: XRP Here To Stay Regardless of Price

Technically, XRP prices are breaking off the 40 day horizontal consolidation and retesting the lower limit of our 5 cent trading zone at 40 cents. Because of this and the way our XRP trade plan dictates, we suggest selling at every pull back with first targets at 30 cents and later 15 cents—our ultimate level.

We also remain cognizant that any high volume spike in prices above 45 cents cancels this projection and snaps XRP back into a range trade.

From the News

As reiterated time and time again, trading with XRP is definitely cheap and convenient especially for companies who adopt xRapid and use XRP for their cross border transactions. Not only will they benefit from speed and convenience as payment settle within seconds but the mere fact there is cost cutting element is irresistible. It’s along the same lines that Mike Arrington said transacting using XRP is simple “fantastic” founding their decision to base Arrington XRP Capital, a hedge fund in XRP. In a recent interview the TechCrunch founder said they moved $50 million and paid 30 cents for a transaction which concluded in less than three seconds.

It might sound like a FUD but keen XRP observers have noted a bear whale who have been unloading 1.08 XRPs from Q1 2018. Coincidentally though, XRP by the millions often change hands when there is a price spike. Could this precipitate further XRP losses or are these exchanges moving XRP to and from their accounts?

XRP centric, SBI Holdings who are also the owners of VC Trade have invested in a 12 percent stake-equivalent to $9 million- at Clear Markets-a US trading firm. Clear Markets has offices around major metropolises around the world like Tokyo, New York and London. Reliable sources say the objective of this acquisition would pave way for SBI Holdings to create a derivatives market around the prices of Bitcoin and most probably XRP-though this is not yet official.

#Japanese#financial services giant #SBI Holdings will expand its #crypto business portfolio by acquiring a 12% stake in Clear Markets, according to SBI’s financial results report published July 31. SBI is scheduled to acquire up to 20% in the future.

Now, considering the way technical formations are arranged, we might see a confirmation of last week sellers. In that case, any close below the lower limit of our support zone at 40 cents will automatically trigger sell in line with our XRP trade plan.

When that pans out, then we shall trade according to our well laid out XRP trade strategy, unloading on every high with first targets below 20 cents.